Faster access to affordable capital for small businesses
CHICAGO, September 13, 2022 /PRNewswire/ — NEWITY, a small business marketplace dedicated to creating equitable access to small business loans and trusted business service providers, today announced the expansion of its lending solutions for include SBA 7(a) loans up to $250,000. This new offering increases access to affordable capital for small business owners who have historically struggled to obtain funds to grow their business.
NEWITY has simplified the 7(a) application to allow small business owners to apply for a business loan in less than 30 minutes. Plus, NEWITY offers phone and virtual support from seasoned SBA professionals through every step of the loan process. Northeast Bank, an SBA approved lender, is working with NEWITY to support small businesses by funding SBA loans made available through Newt’s portal.
Established to better serve Paycheck Protection Program (PPP) loans, NEWITY found it could do more to support undeserved American businesses and communities after the program ended. “Now that the PP is complete, there is an even greater need to support American entrepreneurs,” said Luke Flashier, co-founder and co-CEO of NEWITY. “After maintaining more than $11.4 billion PP Loans and helping 115,000 small businesses, we are strengthening our commitment to empowering entrepreneurs by expanding the size of our small business loan offering and continuing to work with the SBA.”
“We’re excited to continue leveling the playing field for small business owners,” said David Cody, co-founder and co-CEO of NEWITY. “This broader loan offering is a testament to our continued efforts to be a champion for American entrepreneurs who are otherwise disadvantaged when seeking traditional means of financing.”
NEWITY is America’s small business marketplace, focused on empowering entrepreneurs with access to trusted service providers and affordable lending solutions – all in one place. NEWITY uses advanced technology to help small businesses access services to make their business more efficient and profitable. Today, this includes simplified online accounting with Endow to help entrepreneurs easily apply for 7(a) loans; personalized and competitive insurance with Nylon to help companies meet specific loan requirements; and access to a marketing agency marketplace with Reef to enable businesses to use their 7(a) funds more effectively. To join Newt’s growing small business community, visit Euromarket.Com.